The Research On Integration After The Merger & Acquisition Of Chinese Private Enterprises With State-owned Enterpises

Accompaning by more than 30 years of China's gradual reform and the implementation of market economy, the rapid development private economy with its flexible operation mechanism and effective operation mode of the "short", "smooth", "fast" on input and output, achieved the high fit with the market allocation mechanism, and becomae a new force of China's economic development and a positive factor of the rapid economic growth. Today, as the most dynamic market microeconomic subject of China's capital market, the private enterprises play a key role in the process of state-owned enterprises transition. It is conducive to expanse the diversification of private economy, fully use the tangible assets to expand their own development space, such as preferential policies, venues, market share, and advantage talents, ect., and use the intangible assets to expand it, such as brand and quality, ect. , it will be favorable that state-owned enterprises are out of the system bottleneck to be an effective market subjects in the market, it is also beneficial to promote the sound development of the market economy, realize the rational flow and optimized allocation of production factors in the whole society and the upgrading of industrial structure, thus promote the improvement of overall social productive forces, eventually achieve a win-win outcome.In our modern economic society, the practice has proven to: mergers and acquisitions is the most effective way to achieve a win-win outcome. Post-merger integration is the key links to determine the success or failure of M & A activities and plays a decisive role. The so-called M & A integration is the dynamic process of realizing progressively the "oneness" and continuously improving the enterprise's core competitiveness, in which we need systematicl stripping, match, restructuring and integration to various resources under the guidelines and drive of strategic objective in M & A, it all happens after the implementation phase of the transaction. As an important form of M & A integration, the integration after the merger & acquisition of Chinese private enterprises with state-owned enterprises refers to the sum of series acts on stripping, match, restructuring and integration to all kinds of resources of original enterprise, in order to achieve certain economic and social goals after it obtained property of state-owned enterprises in whole or in part. It is a complicated systematic project. In reality, it is led to many private enterprises to bear the enormous risks, even to desperate plight that we neglect the theory and are lack of practice in the integration phase of mergers and acquisitions.At present, aiming at continuously improve the basic socialist economic system measures of "developing the mixed ownership economy participated by state-owned capital, collective capital and non-public capital", according to the idea of the Sixteenth Party Congress report on "expanding the areas for the market access of domestic nongovernmental capital and adopt measures with regard to investment, financing, taxation, land use, foreign trade and other aspects to carry out fair competition ", we should comprehensively and systematically studied this important subject on the sound market economic system and economic development from the perspective of thoroughly apply the Scientific Outlook on Development and ensuring sound and rapid growth of the economy.This article start with a scientific definition of related concepts, research significance and theoretical study on the merger & acquisition of Chinese private enterprises with state-owned enterprises, comprehensively answered its internal mechanism, target model and the overall idea of integration, then discussed the specific target model from the culture, human resources, development strategy, finance, organization and systems, etc., as a scientific systematism theories. All content is divided into eight chapters:The first chapter, researched into the overview and theoretical study of merger & acquisition of Chinese private enterprises with state-owned enterprises. It put the emphases on the integration concept, motivation, guiding principles, contents, implementation processes, modes of operation and related theory, etc.Chapter II, studied the status quo of integration on the merger & acquisition of Chinese private enterprises with state-owned enterprises. It put the emphases on the status quo of integration, existing problems and the cause of the problem, and so on.Chapter III, inspected the integration mechanism, objectives and general idea on the merger & acquisition of Chinese private enterprises with state-owned enterprises. This paper furtherly elaborated them, basing on the related theory and status quo of integration on the merger & acquisition of Chinese private enterprises with state-owned enterprises, etc.Chapter IV to VIII,researched on the culture, human resources, development strategies, financial, and organization and institution. Each chapter starts with the connotation and theory evolution as the breakthrough point, the cultural integration researched on "cultural diversity of the integration model, the formation of monoculture with dual nature, and the reshaping and innovation of image culture, spiritual culture, institution culture and oncept culture of integrated enterprises", and so on; The human resources integration researched on "strengthening the effective communication, easing the pressure and building confidence, timely choicing, retaining talent and reducing diversion, reconstructing an incentive mechanism, restructuring team, employing appropriatly, hiring senior managers", and so on; The development strategies integration researched on "realizing the coordination of development strategies and internal environment change in integrated enterprises, realizing the coordination of development strategies and external environment change in integrated enterprises, developing enterprise development strategies based on the competitive position of integration", etc.; The financial integration researched on "the objectives of financial management, financial management system and financial management processes," and so on; The organization and system integration researched on "the integrated objective of organization, organizational structure elements, and the establishment of efficient and effective control systems, institutional compatibility and transplantation, the institutional authority", and so on.